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ConMed shares take a beating on "disappointing" sales rise

This article was originally published in Clinica

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Executive Summary

ConMed, a US arthroscopy and electrosurgical company that last year enjoyed its most profitable year ever, issued a profit warning on its second quarter earnings last week. The company, with nearly $373 million in sales in 1999 said that its second quarter would only grow by 7%, compared with last year. Wall Street punished the company severely, by removing 36% of its share value last Wednesday; it lost more than $9.25 to finish the day at just over $16.25.

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This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

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